AFRIMAT LIMITED
 Incorporated in the Republic of South Africa
 (Registration number: 2006/022534/06)
 Share code: AFT
 ISIN: ZAE000086302
 (“Afrimat” or “the Company”)




VESTING OF ORDINARY SHARES BY DIRECTORS IN TERMS OF THE AFRIMAT
FORFEITABLE SHARE PLAN


In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the
following information is disclosed:

1.
 NAME OF DIRECTOR                               Andries J van Heerden

 COMPANY OF WHICH A DIRECTOR                    Afrimat Limited

 STATUS: EXECUTIVE/NON-EXECUTIVE                Executive

 TYPE AND CLASS OF SECURITIES                   Ordinary shares

 NATURE OF TRANSACTION                          Acquisition of ordinary shares through the
                                                vesting of awards in terms of the Afrimat
                                                Forfeitable    Share    Plan    (off-market
                                                transaction)

 DATE OF AWARD                                  22 February 2021

 DATE OF VESTING                                22 February 2024

 DATE OF TRANSACTION                            22 February 2024

 DEEMED PRICE PER SHARE                         R60.10
                                                (closing price on 21 February 2024)

 NUMBER OF SECURITIES ACQUIRED                  52 250
 AFTER SETTLEMENT OF TAX

 DEEMED TOTAL RAND VALUE OF                     R3 140 225
 SECURITIES TRANSACTED

 NATURE AND EXTENT OF INTEREST IN               Direct, beneficial
 THE TRANSACTION


2.
 NAME OF DIRECTOR                               Collin Ramukhubathi

 COMPANY OF WHICH A DIRECTOR                    Afrimat Limited

 STATUS: EXECUTIVE/NON-EXECUTIVE                Executive

 TYPE AND CLASS OF SECURITIES                   Ordinary shares
NATURE OF TRANSACTION              Acquisition of ordinary shares through the
                                   vesting of awards in terms of the Afrimat
                                   Forfeitable    Share    Plan    (off-market
                                   transaction)

DATE OF AWARD                      22 February 2021

DATE OF VESTING                    22 February 2024

DATE OF TRANSACTION                22 February 2024

DEEMED PRICE PER SHARE             R60.10
                                   (closing price on 21 February 2024)

NUMBER OF SECURITIES ACQUIRED      34 375
AFTER SETTLEMENT OF TAX

DEEMED TOTAL RAND VALUE OF         R2 065 937.50
SECURITIES TRANSACTED

NATURE AND EXTENT OF INTEREST IN   Direct, beneficial
THE TRANSACTION


3.
 NAME OF DIRECTOR                  Pieter GS de Wit

COMPANY OF WHICH A DIRECTOR        Afrimat Limited

STATUS: EXECUTIVE/NON-EXECUTIVE    Executive

TYPE AND CLASS OF SECURITIES       Ordinary shares

NATURE OF TRANSACTION              Acquisition of ordinary shares through the
                                   vesting of awards in terms of the Afrimat
                                   Forfeitable    Share    Plan    (off-market
                                   transaction)

DATE OF AWARD                      22 February 2021

DATE OF VESTING                    22 February 2024

DATE OF TRANSACTION                22 February 2024

DEEMED PRICE PER SHARE             R60.10
                                   (closing price on 21 February 2024)

NUMBER OF SECURITIES ACQUIRED      34 375
AFTER SETTLEMENT OF TAX

DEEMED TOTAL RAND VALUE OF         R2 065 937.50
SECURITIES TRANSACTED

NATURE AND EXTENT OF INTEREST IN   Direct, beneficial
THE TRANSACTION



4.
 NAME OF DIRECTOR                  Marthinus G Odendaal
 COMPANY OF WHICH A DIRECTOR                 Afrimat Limited

 STATUS: EXECUTIVE/NON-EXECUTIVE             Executive

 TYPE AND CLASS OF SECURITIES                Ordinary shares

 NATURE OF TRANSACTION                       Acquisition of ordinary shares through the
                                             vesting of awards in terms of the Afrimat
                                             Forfeitable    Share    Plan    (off-market
                                             transaction)

 DATE OF AWARD                               22 February 2021

 DATE OF VESTING                             22 February 2024

 DATE OF TRANSACTION                         22 February 2024

 DEEMED PRICE PER SHARE                      R60.10
                                             (closing price on 21 February 2024)

 NUMBER OF SECURITIES ACQUIRED               34 375
 AFTER SETTLEMENT OF TAX

 DEEMED TOTAL RAND VALUE OF                  R2 065 937.50
 SECURITIES TRANSACTED

 NATURE AND EXTENT OF INTEREST IN            Direct, beneficial
 THE TRANSACTION




Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings
Requirements.

Cape Town
23 February 2024

Sponsor
Valeo Capital (Pty) Ltd